Upgrades that have impact on your home value
Whether you're looking to upgrade your home simply to suit your own ever-changing lifestyle, or you're looking to increase the investment you've made in your property there are many factors that come into play when it comes to raising the value of your home.
One important factor to realize is that every home has different potential. There is no online calculator that would be able to accurately put a value on your home renovation. Some things to consider:
The age of your renovation.
Did you just recently complete your upgrades? Or do your upgrades need upgrading? If your renovation is brand new, in theory buyers should be willing to pay the full price of the renovation (providing the upgrades are something they would have done as well, which brings me to my next point).
Different strokes for different folks.
If a buyer looks at your renovation project as something they would have done, consider it worth it. However just because you consider something worth your while, it may not resonate for someone else. One common example commonly seen in home renovation projects is taking a house with three bedrooms plus one small bathroom, and combining one of the small bedrooms and bathroom to make one large bathroom. However that leaves the house with only two bedrooms, which isn't exactly an appealing number for market houses. Maybe consider some simple upgrades to your existing bathroom, and some new flooring and paint in the bedrooms instead.
Bathrooms and Kitchens.
These are two really important rooms to start with when it comes to home improvement projects. If a buyer is looking at your home these are typically the two most important places of appeal.
The kitchen is considered the heart of the home. Give your cabinets and countertops a makeover, upgrade your appliances, replace your flooring, and if your home allows it, give yourself more space with a new layout.
On to the bathroom: if your tub or shower looks dingy, consider replacing them. Change out your old shower for a luxurious steam shower. Re-grout your tile or replace it entirely for a new, refreshed look. Install new stylish fixtures.
Care and Maintenance.
Most importantly, don't put this off. Proper attic insulation, energy-efficient windows, and furnace upgrades are not only money-wise enhancements to your home, they could also be crucial for a sale and will ultimately have a substantial affect on the value of your home. Not to mention they will provide you with your own cost savings in the end.